![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Piedmont Lithium Inc | NASDAQ:PLL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.1807 | 1.75% | 10.4807 | 10.11 | 10.40 | 10.54 | 10.04 | 10.34 | 392,094 | 22:26:32 |
|
| |
Per ADS
|
| |
Total
|
|
Public offering price
|
| |
$6.30
|
| |
$11,340,000
|
|
Underwriting discounts and commissions(1)
|
| |
$0.42525
|
| |
$765,450
|
|
Proceeds to us, before expenses
|
| |
$5.87475
|
| |
$10,574,550
|
|
(1)
|
We refer you to “Underwriting” beginning on page S-29 for additional information regarding underwriters’ compensation.
|
ThinkEquity
a division of Fordham Financial Management, Inc. |
| |
Loop Capital Markets
|
•
|
our annual report on Form 20-F for the fiscal year ended June 30, 2019 filed with the SEC on October 30, 2019 (our “2019 Form 20-F”); and
|
•
|
our reports on Form 6-K furnished to the SEC on January 28, 2020, February 25, 2020 (first filing), February 25, 2020 (second filing), February 26, 2020, February 27, 2020 (first filing), February 27, 2020 (second filing) March 18, 2020 (first filing), March 18, 2020 (second filing), May 18, 2020, May 27, 2020, June 2, 2020, June 8, 2020 (first filing) and June 9, 2020.
|
•
|
risks related to our operations being further disrupted, and our financial results being adversely affected by the novel coronavirus pandemic;
|
•
|
risks related to our limited operating history in the lithium industry;
|
•
|
risks related to our status as an exploration stage company;
|
•
|
risks related to our ability to identify lithium mineralization and achieve commercial lithium mining at the Project;
|
•
|
risks related to mining, exploration and mine construction, if warranted, on our properties;
|
•
|
risks related to our ability to achieve and maintain profitability and to develop positive cash flow from our mining activities;
|
•
|
risks related to investment risk and operational costs associated with our exploration activities;
|
•
|
risks related to our ability to access capital and the financial markets;
|
•
|
risks related to compliance with government regulations;
|
•
|
risks related to our ability to acquire necessary mining licenses, permits or access rights;
|
•
|
risks related to environmental liabilities and reclamation costs;
|
•
|
risks related to volatility in lithium prices or demand for lithium;
|
•
|
risks related to stock price and trading volume volatility;
|
•
|
risks relating to the development of an active trading market for the ADSs;
|
•
|
risks related to ADS holders not having certain shareholder rights;
|
•
|
risks related to ADS holders not receiving certain distributions;
|
•
|
risks related to our status as a foreign private issuer and emerging growth company; and
|
•
|
other factors discussed under “Item 3.D. Risk Factors” in our 2019 Form 20-F and our reports on Form 6-K incorporated herein by reference.
|
|
| |
Unaudited
Fiscal 2015 |
| |
Fiscal 2016
|
| |
Fiscal 2017
|
| |
Fiscal 2018
|
| |
Fiscal 2019
|
Consolidated Statements of Profit or Loss and Other Comprehensive Income
|
| |
|
| |
|
| |
|
| |
|
| |
|
Interest income
|
| |
$59,588
|
| |
$39,002
|
| |
$33,936
|
| |
$132,752
|
| |
$128,377
|
Exploration and evaluation expenses
|
| |
(299,219)
|
| |
(39,903)
|
| |
(1,132,846)
|
| |
(6,021,506)
|
| |
(7,107,146)
|
Corporate and administrative expenses
|
| |
(376,625)
|
| |
(281,797)
|
| |
(444,388)
|
| |
(1,160,608)
|
| |
(1,711,475)
|
Business development expenses
|
| |
(256,994)
|
| |
(139,107)
|
| |
(233,538)
|
| |
(1,207,907)
|
| |
(928,097)
|
Share based payments
|
| |
(83,278)
|
| |
72,471
|
| |
(861,973)
|
| |
(1,172,164)
|
| |
(438,375)
|
Foreign stock exchange listing expenses
|
| |
—
|
| |
—
|
| |
—
|
| |
(580,922)
|
| |
—
|
Other income/(expenses)
|
| |
(29,071)
|
| |
69,701
|
| |
(619)
|
| |
52,538
|
| |
234,090
|
Loss for the year
|
| |
(985,599)
|
| |
(279,633)
|
| |
(2,639,428)
|
| |
(9,957,817)
|
| |
(9,822,626)
|
|
| |
As of June 30,
|
|||||||||
|
| |
Unaudited
2016 |
| |
2017
|
| |
2018
|
| |
2019
|
Consolidated Statement of Financial Position
|
| |
|
| |
|
| |
|
| |
|
Cash and cash equivalents
|
| |
$1,380,358
|
| |
$3,536,318
|
| |
$7,238,489
|
| |
$4,432,150
|
Trade and other receivables
|
| |
10,276
|
| |
33,977
|
| |
72,110
|
| |
59,679
|
Property, plant and equipment
|
| |
959
|
| |
3,895
|
| |
3,982
|
| |
26,195
|
Exploration and evaluation assets
|
| |
38,709
|
| |
177,800
|
| |
742,017
|
| |
2,265,121
|
Total assets
|
| |
1,430,302
|
| |
3,751,990
|
| |
8,056,598
|
| |
6,783,145
|
Trade and other payables
|
| |
(47,117)
|
| |
(483,427)
|
| |
(1,989,084)
|
| |
(2,144,071)
|
Total liabilities
|
| |
(47,117)
|
| |
(483,427)
|
| |
(1,989,084)
|
| |
(2,144,071)
|
Contributed equity
|
| |
24,908,762
|
| |
28,512,793
|
| |
40,483,348
|
| |
48,853,707
|
Total equity
|
| |
1,383,185
|
| |
3,268,563
|
| |
6,067,514
|
| |
4,639,074
|
|
| |
Nine Months
Ended March 31, 2019 |
| |
Nine Months
Ended March 31, 2020 |
Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income
|
| |
|
| |
|
Finance income/(expenses)
|
| |
$98,147
|
| |
$108,955
|
Exploration and evaluation expenses
|
| |
(5,014,434)
|
| |
(2,951,474)
|
Corporate and administrative expenses
|
| |
(1,056,029)
|
| |
(1,243,847)
|
Business development expenses
|
| |
(953,095)
|
| |
(802,340)
|
Share based payments
|
| |
(383,636)
|
| |
(263,519)
|
Other income/(expenses)
|
| |
181,550
|
| |
1,074,861
|
Loss for the period
|
| |
(7,127,497)
|
| |
(4,077,364)
|
|
| |
Nine Months
Ended March 31, 2019 |
| |
Nine Months
Ended March 31, 2020 |
Operating results
|
| |
|
| |
|
Interest income/(expenses)
|
| |
$98,147
|
| |
$108,955
|
Exploration and evaluation expenses
|
| |
(5,014,434)
|
| |
(2,951,474)
|
Corporate and administrative expenses
|
| |
(1,056,029)
|
| |
(1,243,847)
|
Business development expenses
|
| |
(953,095)
|
| |
(802,340)
|
Share based payments
|
| |
(383,636)
|
| |
(263,519)
|
Other income/(expenses)
|
| |
181,550
|
| |
1,074,861
|
Loss before income tax
|
| |
(7,127,497)
|
| |
(4,077,364)
|
Income tax expense
|
| |
—
|
| |
—
|
Loss for the period
|
| |
(7,127,497)
|
| |
(4,077,364)
|
•
|
exploration and evaluation expenses of $3.0 million and $5.0 million for the nine months ended March 31, 2020 and 2019, respectively. This decrease resulted principally from our reduced exploration drilling activities on the Project. During the nine months ended March 31, 2019 we completed the majority of a 25,000-meter Phase 4 drill program to expand the Project’s resource base. During the nine months ended March 31, 2020 we were primarily focused on completing further technical studies on the Project, and only a small portion of the Phase 4 drill program occurred during this period;
|
•
|
corporate and administrative expenses of $1.2 million and $1.1 million for the nine months ended March 31, 2020 and 2019, respectively. The nature and level of corporate and administrative expenses remained largely consistent between both financial periods;
|
•
|
business development expenses of $0.8 million and $1.0 million for the nine months ended March 31, 2020 and 2019, respectively. The nature and level of business development activity remained largely consistent between both financial periods;
|
•
|
share-based payment expenses of $0.3 million and $0.4 million for the nine months ended March 31, 2020 and 2019, respectively. The nature and level of share-based payment expenses remained largely consistent between both financial periods; and
|
•
|
net foreign exchange gain of $1.1 million and $0.2 million for the nine months ended March 31, 2020 and 2019, respectively. The increase resulted primarily from the U.S. dollar significantly appreciating against the Australian dollar during the nine months ended March 31, 2020, which gave rise to a foreign exchange gain on U.S. dollar cash balances held by the parent company whose functional currency is the Australian dollar.
|
|
| |
Nine Months
Ended March 31, 2019 |
| |
Nine Months
Ended March 31, 2020 |
Unaudited Condensed Consolidated Statements of Cash Flows
|
| |
|
| |
|
Net cash flow used in operating activities
|
| |
$(7,298,302)
|
| |
$(7,534,906)
|
Net cash flow used in investing activities
|
| |
(1,314,223)
|
| |
(2,678,405)
|
Net cash flow from financing activities
|
| |
8,321,841
|
| |
13,609,707
|
Increase/(decrease) in cash and cash equivalents
|
| |
(290,684)
|
| |
3,396,396
|
Net foreign exchange differences
|
| |
181,550
|
| |
1,123,007
|
Cash and cash equivalents at the beginning of the period
|
| |
7,238,489
|
| |
4,432,150
|
Cash and cash equivalents at the end of the period
|
| |
7,129,355
|
| |
8,951,553
|
•
|
the discovery of unusual or unexpected geological formations;
|
•
|
accidental fires, floods, earthquakes or other natural disasters;
|
•
|
unplanned power outages and water shortages;
|
•
|
controlling water and other similar mining hazards;
|
•
|
operating labor disruptions and labor disputes;
|
•
|
the ability to obtain suitable or adequate machinery, equipment, or labor;
|
•
|
our liability for pollution or other hazards; and
|
•
|
other known and unknown risks involved in the conduct of exploration and operation of mines.
|
•
|
a significant, prolonged decrease in the market price of lithium;
|
•
|
difficulty in marketing and/or selling lithium;
|
•
|
significantly higher than expected capital costs to construct our mine;
|
•
|
significantly higher than expected extraction costs;
|
•
|
significantly lower than expected lithium extraction;
|
•
|
significant delays, reductions or stoppages of lithium extraction activities; and
|
•
|
the introduction of significantly more stringent regulatory laws and regulations.
|
•
|
adverse economic conditions;
|
•
|
adverse general capital market conditions;
|
•
|
poor performance and health of the lithium or mining industries in general;
|
•
|
bankruptcy or financial distress of unrelated lithium companies or marketers;
|
•
|
significant decrease in the demand for lithium; or
|
•
|
adverse regulatory actions that affect our exploration and construction plans or the use of lithium generally.
|
•
|
our ability to obtain leases or options on properties;
|
•
|
our ability to identify and acquire new exploratory prospects;
|
•
|
our ability to develop existing prospects;
|
•
|
our ability to continue to retain and attract skilled personnel;
|
•
|
our ability to maintain or enter into new relationships with project partners and independent contractors;
|
•
|
the results of our exploration programs;
|
•
|
the market price for lithium;
|
•
|
our access to capital; and
|
•
|
our ability to enter into agreements for the sale of lithium.
|
•
|
actual or expected fluctuations in our prospects or operating results;
|
•
|
changes in the demand for, or market price of, lithium;
|
•
|
additions to or departures of our key personnel;
|
•
|
fluctuations of exchange rates between the U.S. dollar and the Australian dollar;
|
•
|
changes or proposed changes in laws and regulations;
|
•
|
changes in trading volume of ADSs on Nasdaq and of our ordinary shares on the ASX;
|
•
|
sales or perceived potential sales of the ADSs or ordinary shares by us, our directors, senior management or our shareholders in the future;
|
•
|
announcement or expectation of additional financing efforts; and
|
•
|
conditions in the U.S. or Australian financial markets or changes in general economic conditions.
|
•
|
it did not have jurisdiction;
|
•
|
it was not an appropriate forum for such proceedings;
|
•
|
applying Australian conflict of laws rule, U.S. law (including U.S. securities laws) did not apply to the relationship between holders of our ordinary shares or ADSs and us or our directors and officers; or
|
•
|
the U.S. securities laws were of a public or penal nature and should not be enforced by the Australian court.
|
•
|
effect service of process within the United States upon certain directors and executive officers or on us;
|
•
|
enforce in U.S. courts judgments obtained against any of our directors and executive officers or us in the U.S. courts in any action, including actions under the civil liability provisions of U.S. securities laws;
|
•
|
enforce in U.S. courts judgments obtained against any of our directors and senior management or us in courts of jurisdictions outside the United States in any action, including actions under the civil liability provisions of U.S. securities laws; or
|
•
|
bring an action in an Australian court to enforce liabilities against any of our directors and executive officers or us based upon U.S. securities laws.
|
•
|
Nasdaq’s requirement that a majority of our board of directors be “independent” as defined by Nasdaq rules. The ASX Corporate Governance Principles and Recommendations contain non-binding recommendations that all ASX-listed companies should strive to achieve, including a majority of the board being comprised of independent directors. Due to Australian law and generally accepted business practices in Australia regarding director independence, we have departed from this recommendation and differ from independence requirements under the Nasdaq Capital Market.
|
•
|
Nasdaq’s requirement that our independent directors meet regularly in executive sessions. The ASX Listing Rules and the Corporations Act do not require the independent directors of an Australian company to have such executive sessions and, accordingly, we have claimed this exemption.
|
•
|
Nasdaq’s requirement that an issuer provide for a quorum as specified in its bylaws for any meeting of the holders of ordinary shares, which quorum may not be less than 33 1/3% of the outstanding shares of an issuer’s voting ordinary shares. In compliance with Australian law, our Constitution provides that two shareholders present shall constitute a quorum for a general meeting.
|
•
|
Nasdaq’s requirement that we establish a compensation committee and that all members of such committee be “independent” as defined in the Nasdaq rules. Nasdaq rules would require that compensation be determined, or recommended to the board of directors for determination, either by a compensation committee comprised of independent directors or by a majority of the independent directors on our board of directors. Instead, compensation of our directors and officers will be determined by our board of directors. The ASX Listing Rules and Australian law do not require an Australian company to establish a compensation committee, known in Australia as a remuneration committee, which is comprised solely of non-executive directors if the company is not included in the S&P/ASX300 Index at the beginning of its fiscal year. We were not included on the S&P/ASX300 Index at the beginning of our last fiscal year and, hence, are not required under ASX Listing Rules to have a remuneration committee. The ASX Corporate Governance Principles and Recommendations contain a non-binding recommendation that all ASX-listed companies should have a remuneration committee comprised of at least three members, a majority of whom (including the chair) are independent. While these recommendations contain guidelines for assessing independence, ASX-listed entities are able to adopt their own definitions of an independent director for this purpose and is different from the definition in the Nasdaq rules.
|
•
|
Nasdaq’s requirement that we establish a nominating committee and that all members of such committee be “independent” as defined in the Nasdaq rules. Nasdaq rules would require that nominations to be determined, or recommended to the board of directors for determination, either by a nominating committee comprised of independent directors or by a majority of the independent directors on our board of directors. Instead, nominations for persons for election as our directors are determined by our board of directors. The ASX Listing Rules and Australian law do not require an Australian company to establish a nominating committee.
|
•
|
Nasdaq’s requirement that issuers obtain shareholder approval prior to the issuance of securities in connection with certain acquisitions, changes of control or private placements of securities, or the establishment or amendment of certain stock option, purchase or other compensation plans. Applicable Australian law and rules differ from Nasdaq requirements, with the ASX Listing Rules providing generally for prior shareholder approval in numerous circumstances, including (i) issuance of equity securities exceeding 15% (or an additional 10% capacity to issue equity securities for the proceeding 12-month period if shareholder approval by special resolution is sought at the Company’s annual general meeting) of our issued share capital in any 12-month period (but, in determining the available
|
•
|
Nasdaq’s requirement that we maintain a code of conduct in compliance with Nasdaq rules. Applicable Australian law does not require us to maintain a code of conduct.
|
•
|
the last day of the fiscal year during which we have total annual gross revenues of US$1,070,000,000 (as such amount is indexed for inflation every five years by the United States Securities and Exchange Commission, or SEC) or more;
|
•
|
the last day of our fiscal year following the fifth anniversary of the completion of our first sale of common equity securities pursuant to an effective registration statement under the Securities Act;
|
•
|
the date on which we have, during the previous three-year period, issued more than US$1,070,000,000 in non-convertible debt; or
|
•
|
the date on which we are deemed to be a “large accelerated filer,” as defined in Rule 12b-2 of the Exchange Act, which would occur if the market value of our ordinary shares and ADSs that are held by non-affiliates exceeds US$700,000,000 as of the last day of our most recently completed second fiscal quarter.
|
|
| |
As of
March 31, 2020 |
Cash and cash equivalents
|
| |
$8,951,553
|
Loans and borrowings
|
| |
2,095,463
|
Equity:
|
| |
|
Contributed equity
|
| |
63,429,107
|
Reserves
|
| |
91,228
|
Accumulated losses
|
| |
(50,053,698)
|
Total equity
|
| |
13,466,637
|
Total capitalization
|
| |
$ 15,562,100
|
Number of Incentive
Options Outstanding(1) |
| |
Exercise Price (A$)
|
| |
Expiry Date
|
1,300,000
|
| |
A$0.15
|
| |
June 30, 2020
|
1,300,000
|
| |
A$0.20
|
| |
June 30, 2020
|
4,175,000
|
| |
A$0.25
|
| |
June 30, 2020
|
6,000,000
|
| |
A$0.10
|
| |
July 10, 2020
|
2,875,000
|
| |
A$0.35
|
| |
December 31, 2020
|
6,000,000
|
| |
A$0.12
|
| |
January 10, 2021
|
1,500,000
|
| |
A$0.15
|
| |
June 30, 2021
|
6,000,000
|
| |
A$0.16
|
| |
July 10, 2021
|
400,000
|
| |
A$0.22
|
| |
July 31, 2021
|
400,000
|
| |
A$0.26
|
| |
July 31, 2021
|
400,000
|
| |
A$0.28
|
| |
July 31, 2021
|
1,500,000
|
| |
A$0.20
|
| |
June 30, 2022
|
6,000,000
|
| |
A$0.24
|
| |
July 10, 2022
|
23,750,000
|
| |
A$0.16
|
| |
December 31, 2022
|
(1)
|
Does not include 3,000,000 unlisted incentive options (each exercisable at A$0.16 and expiring December 31, 2022) to be issued to a proposed new employee of the Company.
|
Number of Performance
Rights Outstanding(1) |
| |
Performance Condition
|
| |
Expiry Date
|
50,000
|
| |
Pre-Feasibility Study Milestone
|
| |
December 31, 2020
|
2,500,000(2)
|
| |
Chemical Plant PFS Milestone
|
| |
December 31, 2020
|
2,500,000
|
| |
Integrated Feasibility Study Milestone
|
| |
December 31, 2021
|
2,500,000
|
| |
Construction Milestone
|
| |
December 31, 2022
|
(1)
|
Does not include 1,500,000 unlisted performance rights (500,000 subject to the Offtake MOU Milestone and expiring December 31, 2020; 500,000 subject to the Binding Offtake Milestone and expiring on December 31, 2021; and 500,000 subject to the Construction Milestone and expiring December 31, 2022) to be issued to a proposed new employee of the Company.
|
(2)
|
These 2,500,000 performance rights (subject to the Chemical Plant PFS Milestone and expiring December 31, 2020) have vested and will be converted into 2,500,000 ordinary shares on or about the date of closing of the offering.
|
|
| |
As of March 31, 2020
|
|||
|
| |
ADSs
(in $) |
| |
Ordinary
Shares (in $) |
Net tangible book value per ADS or ordinary share
|
| |
1.63
|
| |
0.02
|
Increase in net tangible book value per ADS or ordinary share to existing shareholders
|
| |
0.71
|
| |
0.01
|
Pro forma net tangible book value per ADS or ordinary share after this offering
|
| |
2.34
|
| |
0.02
|
Dilution per ADS or ordinary share to new investors
|
| |
3.96
|
| |
0.04
|
Percentage of dilution in net tangible book value per ADS or ordinary share for new investors(1)
|
| |
63%
|
| |
63%
|
(1)
|
Percentage of dilution for new investors is calculated by dividing the dilution in net tangible book value for new investors by the price of this offering.
|
Underwriter
|
| |
Number of ADSs
|
ThinkEquity, a division of Fordham Financial Management, Inc.
|
| |
1,440,000
|
Loop Capital Markets LLC
|
| |
360,000
|
Total
|
| |
1,800,000
|
|
| |
|
| |
Total
|
|||
|
| |
Per ADS
|
| |
Without
Option |
| |
With
Option |
Public offering price
|
| |
$6.30
|
| |
$11,340,000
|
| |
$13,009,500
|
Underwriting discounts and commissions (6.75%)
|
| |
$0.42525
|
| |
$765,450
|
| |
$878,141
|
Proceeds, before expenses, to us
|
| |
$5.87475
|
| |
$10,574,550
|
| |
$12,131,359
|
•
|
issue (in the case of us), offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any ADSs, ordinary shares or other capital stock or any securities convertible into or exercisable or exchangeable for our ordinary shares or other capital stock; or
|
•
|
in the case of us, file or cause the filing of any registration statement under the Securities Act with respect to any ADSs, ordinary shares or other capital stock or any securities convertible into or exercisable or exchangeable for our ordinary shares or other capital stock; or
|
•
|
in the case of us, complete any offering of debt securities of the Company, other than entering into a line of credit, term loan arrangement or other debt instrument with a traditional bank; or
|
•
|
enter into any swap or other agreement, arrangement, hedge or transaction that transfers to another, in whole or in part, directly or indirectly, any of the economic consequences of ownership of the ADSs, ordinary shares or other capital stock or any securities convertible into or exercisable or exchangeable for our common stock or other capital stock, whether any transaction described in any of the foregoing bullet points is to be settled by delivery of our common stock or other capital stock, other securities, in cash or otherwise, or publicly announce an intention to do any of the foregoing and subject to certain customary exceptions.
|
•
|
to legal entities that are authorized or regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities;
|
•
|
to any legal entity that has two or more of (i) an average of at least 250 employees during its last fiscal year; (ii) a total balance sheet of more than €43,000,000 (as shown on its last annual unconsolidated or consolidated financial statements) and (iii) an annual net turnover of more than €50,000,000 (as shown on its last annual unconsolidated or consolidated financial statements);
|
•
|
to fewer than 100 natural or legal persons (other than qualified investors within the meaning of Article 2(1)(e) of the Prospectus Directive) subject to obtaining the prior consent of the Company or any underwriter for any such offer; or
|
•
|
in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of securities shall result in a requirement for the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Directive.
|
•
|
to Italian qualified investors, as defined in Article 100 of Decree no.58 by reference to Article 34-ter of CONSOB Regulation no. 11971 of 14 May 1999 (“Regulation no. 1197l”) as amended (“Qualified Investors”); and
|
•
|
in other circumstances that are exempt from the rules on public offer pursuant to Article 100 of Decree No. 58 and Article 34-ter of Regulation No. 11971 as amended.
|
•
|
made by investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with Legislative Decree No. 385 of 1 September 1993 (as amended), Decree No. 58, CONSOB Regulation No. 16190 of 29 October 2007 and any other applicable laws; and
|
•
|
in compliance with all relevant Italian securities, tax and exchange controls and any other applicable laws.
|
|
| |
Page
|
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| | ||
| |
•
|
our annual report on Form 20-F for the fiscal year ended June 30, 2019 filed with the SEC on October 30, 2019;
|
•
|
our reports on Form 6-K furnished to the SEC on July 3, 2019 and July 10, 2019 with respect to the private placement; and
|
•
|
•
|
risks related to our limited operating history in the lithium industry;
|
•
|
risks related to our status as an exploration stage company;
|
•
|
risks related to our ability to identify lithium mineralization and achieve commercial lithium mining at the Project;
|
•
|
risks related to mining, exploration and mine construction, if warranted, on our properties;
|
•
|
risks related to our ability to achieve and maintain profitability and to develop positive cash flow from our mining activities;
|
•
|
risks related to investment risk and operational costs associated with our exploration activities;
|
•
|
risks related to our ability to access capital and the financial markets;
|
•
|
risks related to compliance with government regulations;
|
•
|
risks related to our ability to acquire necessary mining licenses, permits or access rights;
|
•
|
risks related to environmental liabilities and reclamation costs;
|
•
|
risks related to volatility in lithium prices or demand for lithium;
|
•
|
risks related to stock price and trading volume volatility;
|
•
|
risks relating to the development of an active trading market for the ADSs;
|
•
|
risks related to ADS holders not having certain shareholder rights;
|
•
|
risks related to ADS holders not receiving certain distributions; and
|
•
|
risks related to our status as a foreign private issuer and emerging growth company.
|
•
|
the title of the subscription rights;
|
•
|
the securities for which the subscription rights are exercisable;
|
•
|
the number of subscription rights issued;
|
•
|
the extent to which the subscription rights are transferable;
|
•
|
if applicable, a discussion of the material U.S. federal or other income tax considerations applicable to the issuance or exercise of the subscription rights;
|
•
|
any other terms of the subscription rights, including terms, procedures and limitations relating to the exchange and exercise of the subscription rights;
|
•
|
if applicable, the record date to determine who is entitled to the subscription rights and the ex-rights date;
|
•
|
the date on which the rights to exercise the subscription rights will commence, and the date on which the rights will expire;
|
•
|
the extent to which the offering includes an over-subscription privilege with respect to unsubscribed securities; and
|
•
|
if applicable, the material terms of any standby underwriting arrangement we enter into in connection with the offering.
|
•
|
ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;
|
•
|
block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;
|
•
|
purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
|
•
|
an exchange distribution in accordance with the rules of the applicable exchange;
|
•
|
privately negotiated transactions;
|
•
|
settlement of short sales entered into after the date of this prospectus;
|
•
|
sales in which broker-dealers agree with us or a selling securityholder to sell a specified number of securities at a stipulated price per security;
|
•
|
through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;
|
•
|
by pledge to secure debts or other obligations;
|
•
|
by an underwritten public offering;
|
•
|
in a combination of any of the above; or
|
•
|
any other method permitted pursuant to applicable law.
|
1 Year Piedmont Lithium Chart |
1 Month Piedmont Lithium Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions